Under a DACA amnesty, American taxpayers would be left with a $26 billion bill. About one in five DACA illegal aliens, after an amnesty, would end up on food stamps, while at least one in seven would go on Medicaid. Since DACA’s inception under Obama, more than 2,100 illegal aliens have been kicked off the program after it was revealed that they were either criminals or gang members. JOHN BINDER

Saturday, June 17, 2017

By
Shannon Jones
17 June 2017

General Motors said Friday that it will eliminate a shift
beginning in late September at its Fairfax Assembly Plant in Kansas City,
Kansas due to declining sales of passenger cars.

The facility currently employs more than 3,000, and the announced
layoffs are expected to impact about 1,000. The plant builds the Chevrolet
Malibu. GM blamed the job cuts on a switch in customer tastes from smaller
vehicles to larger trucks and SUVs. However, overall vehicle sales for all the
major auto manufacturers have been decreasing in 2017.

The announcement of impending layoffs at the Fairfax plant follows
the report by GM that it is extending the summer shutdown at its Fairfax and
Lordstown, Ohio Assembly plants from the normal two weeks to five weeks to
reduce inventories.

Meanwhile, Bank of America Merrill Lynch issued a warning Friday
of a “swift and material downturn” in US auto sales, sending stocks of GM and
other US-based carmakers into a tailspin. The bank projected that auto sales
would tank to around 13 million per year by 2021 as a “tsunami” of off-lease
cars hit the market and raw materials prices increase.

The sales decline is tied to several factors, including increased
numbers of used cars on the market, tightened lending standards by banks
concerned over increasing numbers of delinquent auto loans, the introduction of
new technologies such as driverless vehicles and the spread of ridesharing.

There is concern that the downturn in sales could reflect a
broader worsening of consumer sentiment and cause a fall off throughout the
economy. Auto manufacturing still represents a considerable section of the US
economy, and a downturn in the auto sector could have a much wider impact.

Last week an analyst for Morgan Stanley cut his 2017 sales
estimate to 17.3 million from 18.3 million. He expects annual sales to fall to
15 million by 2019, about the 2013 level. Earlier estimates had sales reaching
19.2 million.

The most recent job cut announcement at General Motors follows a
series of indications that the seven-year long auto sales boom is unwinding.
GM’s sales are down 1 percent for the year, and its market share is near an
historical low.

In April GM said it would shutter some US plants for as long as 10
weeks over the summer. At the end of May, it had an inventory of 963,448
vehicles, or a 101-day supply. That compares to a 57-day supply at the end of
May 2016.

May sales figures showed the fifth straight month of decreases.
The seasonally adjusted annualized sales rate fell to 16.7 million vehicles,
down from 17.2 million in May 2016. Total sales for 2016 came in at 17.54
million, a record. Sales for the Malibu were down 30 percent from a year
earlier.

Two weeks ago, GM said it would eliminate a full shift, 300 jobs,
at its Warren, Michigan transmission plant outside Detroit. The facility builds
transmissions for 11 different GM models. The company said that the cuts were
in response to slowing sales and reduced demand for passenger cars.

Earlier this year GM eliminated a full shift, impacting some 1,300
workers, at its Detroit-Hamtramck Assembly Plant. It had previously cut shifts
at Lordstown and at its Lansing Grand River facility.

In response, the United Auto Workers (UAW) defended the layoffs as
dictated by “market conditions.” Vicky Hale, president of UAW Local 31, told
the Kansas City Star,
“The market is for trucks, crossovers and SUVs, but we build mid-sized Malibus.
It’s not a good place for us to be to have just the one product. Most plants
have two or three products.”

GM is not the only automaker impacted by the drop off in sales. In
May, Ford said it would reduce its salaried and white-collar workforce by 10
percent in North America and the Asia-Pacific.

Ford previously announced 130 layoffs at its Avon Lake, Ohio plant
that builds the F-650 and F-750 pickup truck due to lower demand for the
previously hot selling cargo vehicle.

The company has already carried out periodic short-term layoffs at
plants building the F-150 pickup truck in a move to trim demand.

All the US-based car companies face enormous pressure from Wall
Street to drive up profits and cut costs. This will translate into attacks on
jobs as the auto sales boon ebbs.

The UAW has played an indispensable role in facilitating layoffs.
The 2015 sellout contract agreement sanctioned the increased use of temporary
and part-time workers in the auto factories. These workers, who are not
eligible for supplemental unemployment benefits (SUB), are in effect a
disposable workforce that the company can hire and discharge with minimal cost.

In addition, the 2015 agreement removed the cap on lower-paid,
tier-two workers whose SUB benefits are capped at 26 weeks and only provides 74
percent of their pay. The contract also sanctioned additional overtime,
allowing management to use existing workers to take up production shortfalls
without re-hiring workers.

Why Stocks Keep On Rallying

Stocks have been going up since 2009. What's driving this, and how long can the bulls keep on running?

June 14, 2017 AT 11:48 AM

Traders on the floor of the New York Stock Exchange on April 7. (DREW ANGERER/GETTY IMAGES)

In normal conditions, stock market functions are a barometer for the economy. Good earnings and economic activity drive stocks higher. Valuations are another factor: Are stocks cheap in terms of their earnings, and are they paying a high dividend yield?

This stock market is different: Earnings have been falling, until the most recent earnings season; the economy has been lukewarm, though not terrible; and different valuation metrics are at the previous bubble peaks of 1929 and 1999. Currently, the S&P 500 pays less in dividends (1.9 percent) than the 10-year Treasury note does in interest (2.2 percent).

All these fundamentals have been begging for a bear market in stocks for several years now, but it has never come. In fact, the S&P 500 just made a new record high of 2,445 on June 9 and is up 8.62 percent for the year and 84 percent over the last five years—not a shabby performance. Not even political gridlock, the risk of war, and Federal Reserve (Fed) interest rate hikes can shake the market this year.

So why aren’t stocks correcting? It turns out there are a few good reasons as to why stocks have rallied for so long.

Central Bank Support

By far the biggest reason for the prolonged rally, in spite of lukewarm GDP growth and sky-high valuations, is continuing money-printing by not just the Fed but by all global central banks.

Federal Reserve Board Chairwoman Janet Yellen holds a news conference following a meeting of the Federal Open Market Committee in Washington on March 15, 2017.(Chip Somodevilla/Getty Images)

Although most central banks do not buy stocks directly, they buy bonds, which in turn affects the stock market.

“The stock market is very expensive but doesn’t go down, because the bond market is even more expensive. Valuations are very high because bond yields are low. That’s the effect of central banks printing $200 billion per month in a period where there is no crisis,” said economist and author Daniel LaCalle.

According to research by Bank of America, global central banks have bought $1.5 trillion in assets in 2017 alone. Although the Fed has stopped asset purchases and even raised interest rates, the Bank of Japan and the European Central Bank have picked up the slack.

When central banks create electronic reserves to buy mostly sovereign bonds, it takes risk out of the market, and people have to go elsewhere.

“When you take a lot of assets out of the market, you force investors to buy something else. This has mostly impacted equities and real estate,” said Christopher Whalen, author and publisher of The Institutional Risk Analyst.

Some central banks, however, also buy stocks outright, like the Bank of Japan or the Swiss National Bank.

The European Central Bank, ECB is pictured in Frankfurt am Main, Germany, on March 9, 2017.(DANIEL ROLAND/AFP/Getty Images)

“The central banks are buying stocks to promote their policies. It has nothing to do with the economy and valuations. They are doing it because they have to,” said Jeff Snider, chief investment officer of Alhambra Investment Partners. He calls this “non-economic buying.”

In its most recent filing with the Securities and Exchange Commission, the Swiss National Bank disclosed it held $63.4 billion of U.S. equities at the end of 2016. Its biggest holdings are Apple Inc., Microsoft Corp., and Exxon Mobil Corp.

Share Buybacks

Economist Robert Shiller developed this valuation indicator from the classic price-toearnings ratio. Taking average earnings over 10 years and adjusting them for inflation takes out short-term fluctuations, giving a reliable measure of when stocks are historically cheap or expensive.

Snider says another driver of demand in recent years has been companies buying their own shares.

“If you are a company, the least risky thing you can do is buy back stocks. The most risky thing you can do is invest in new business,” he said. This is one of the reasons why stocks are up but the economy is tepid at best.

*

According to Standard & Poor’s, S&P 500 companies bought back $536.4 billion worth of their own stock in 2016 alone.

The billions spent by central banks and companies are enough to make a dent in the $26.5 trillion U.S. equity market, but there also aren’t many players on the other side of the trade.

“You don’t have a lot of selling either. Retail investors and institutions aren’t compelled to sell. They are holding and the noneconomic actors are buying,” said Snider.

“[There are] too many buyers, not enough assets, no sellers,” said Whalen, adding that this set-up has to lead to higher prices, regardless of valuation.

Retirement Pressure

But there is one type of retail investor that has been fueling this rally for several years now: the baby boomer.

There is one type of retail investor that has been fueling this rally for several years now: the baby boomer.

“Asset allocation decisions are based on crowd psychology: The average baby boomer is 62 years old and does not have enough money to retire. They are forced to take more risks because of low interest rates,” said Raoul Pal, founder of Global Macro Investor and co-founder of Real Vision Television.

Pal thinks that regardless of money printing by the central banks, people still have to decide where to put that money. Boomers could have put more money into gold, real estate, or bonds; instead, they chose stocks because of the higher return profile.

“The baby boomers have the maximum equity allocation they could possibly have. They are planning to retire at age 65 to 70,” said Pal. “It’s human behavior. It’s predictable.”

He cites Japan as an example where the central bank has been buying up bonds for two decades but savers have refused to buy stocks. As a result, the Japanese market never recovered the highs from the 1980s boom.

The Bank of Japan governor Haruhiko Kuroda delivers a speech during the Japan Business Federation (Keidanren) Board of Councillors meeting at its headquarters in Tokyo on Dec. 25, 2014. (TOSHIFUMI KITAMURA/AFP/Getty Images)

From a purely psychological point of view, the lack of negative catalysts has also been helping stocks.

“People see that the things that keep them away from the stock market are unjustified. Last year, people were talking about a global recession that didn’t happen. The euro didn’t break up. China didn’t collapse. Elections in Europe weren’t as bad as expected,” said LaCalle.

If one negative element is removed, investors switch from “don’t buy” to “buy.” That’s why there is the saying “stocks climb a wall of worry.”

To top things off, foreigners from emerging markets have also been paying top dollar to get their hands on some higher quality U.S. assets to escape their own country’s problems.

The sculpture “Charging Bull” at Broadway and Morris near the southern tip of Manhattan in January 2014. (Samira Bouaou/Epoch Times)

“You look around the world and you see that the United States has been the recipient of trillions of dollars because the emerging countries have been going through some rough economic times,” said Whalen.

Chinese have been the main driver of capital flight. The Chinese central bank sold almost $1 trillion in official foreign exchange reserves in the form of U.S. Treasury bonds that ended up in individuals’ and companies’ hands, who in turn invested the money in U.S. real estate and equities.

How Long Can It Last?

“The overvaluation is incredible. This is the 97th month of the recovery, one of the the longest bull markets in the Dow Jones. You have the highest valuations since 1929 or 1999. Being an investor here is suicide,” said Victor Sperandeo, principal at EAM Partners and a member of the Trader Monthly Hall of Fame.

This is the 97th month of the recovery, one of the the longest bull markets in the Dow Jones. You have the highest valuations since 1929 or 1999.

— Victor Sperandeo, principal at EAM Partners

The only thing able to change investors’ perception about the future of earnings and the economy is a recession. “The structure of the stock market is terrible but the imbalances will only get corrected in a recession,” said Pal.

In fact, government bond yields are already at recession levels and have been for some time. “You look at the bond market and it comes to the opposite conclusion than stocks: ‘We are stuck in a low growth period, and we don’t get out,'” said Snider.

People walk past the New York Stock Exchange during afternoon trading in New York City on Aug. 4, 2011. (Mario Tama/Getty Images)

Since 1910, after every two-term presidency followed by a change in the party controlling the White House, the economy has always suffered a recession within 15 months of the handover, according to Pal.

Since President Donald Trump’s election last November, the S&P 500 rallied 13.7 percent.

However, since President Donald Trump’s election last November, the S&P 500 rallied 13.7 percent, as investors bet on Trump’s promise to deliver on tax cuts and deregulation.

The S&P 500 is up 230 percent since the low on March 6, 2009. This bull market is now 99 months old, taking second place after the tech boom of the 1990s, which lasted 113 months from October 1990 to March 2000 and delivered gains of 417 percent. (SOURCE: GOOGLE FINANCE)

As soon as people realize that their assumptions of a decent economy are disappointed, the stock market will correct. Should the recession materialize, Bank of America estimates markets could drop 20 percent. But this may be optimistic.

Will the Fed Let Stocks Crash?

“You never know if there will be a significant drawdown like in 2008, but you know that if there is one, then there is an unlimited supply of money to drive prices higher again,” said Paul Brodsky, principal at hedge fund PostModern Partners.

*

According to Raoul Pal, the Fed will have to buy equities to protect baby boomers’ retirement money. During previous bear markets, baby boomers kept adding to their retirement funds through their 401ks. This time, they are about to take money out. A market crash would put a large portion of their retirement savings at risk.

“The only way to stop a market clearing event with stocks down 80 percent is the Fed buying equities,” said Pal.

Brodsky agrees: “We have an incentive structure that leads to the Fed making sure that the U.S. equity markets are stable. Regardless of value, of price earnings multiples, the nominal price of the index has to remain stable.”

The experts agree that without central bank support, there would be no holding back, said Sperandeo: “The move is not over, but it’s almost over. And when it comes down, it’s going to come down hard.”

"In other words, for millions of working class families, this is as good as it gets."

BLOG: THE ENTIRE REASON WE HAVE OPEN BORDERS AND A STAGGERING MEXICAN WELFARE STATE ON OUR BACKS IS TO KEEP WAGES DEPRESSED AND PASS ALONG THE REAL COST OF THIS "CHEAP" LABOR WELFARE COST IN TAXES ON THE LEGAL AMERICAN MIDDLE CLASS.

There was a clear warning that if wages start to rise as workers seek to claw back what they have lost, the Fed will take action.Despite low inflation, US Fed lifts interest rates

By Nick Beams15 June 2017

The US Federal Reserve Board yesterday increased its base rate by 0.25 percentage points to a range of 1 percent to 1.25 percent, despite further falls in retail sales and data showing that inflation remains below the Fed’s target rate of 2 percent.

Chairwoman Janet Yellen indicated that the Fed was on track for further rate rises, including another quarter percentage point increase by the end of the year. She also laid out how the Fed intends to start to wind back its holdings of financial assets, Treasury and corporate bonds, purchased during its quantitative easing program, initiated after the 2008 financial crisis.

The overriding message from the Fed was that in the midst of low economic growth, falling consumption spending and the spread of part-time and casual work replacing full time jobs, the present situation represents the new normal.

Yellen said the latest rate rise reflected “the progress the economy has made,” and was expected to make, toward the Fed’s maximum employment and price stability objectives. In other words, for millions of working class families, this is as good as it gets.

There was a clear warning that if wages start to rise as workers seek to claw back what they have lost, the Fed will take action.

EMPLOYERS OF ILLEGALS ARE PROMISED "HEALTHY LABOR MARKET"

“We continue to expect the ongoing strength of the economy will warrant gradual increases in the federal funds rate to sustain a healthy labour market and stabilise inflation around our 2 percent longer-run objective,” Yellen said.

So far as the Fed and the financial elites for which it speaks are concerned, a “healthy labour market” means real wages will continue to decline. This is not least due to the replacement of full-time work with casualised labour—a trend that saw some 94 percent of the 10 million jobs created during the Obama administration consist of temporary, contract or part-time positions.

Vast changes in the structure of the US economy are reflected in the changed relationship between inflation and the unemployment level. The present jobless rate is officially at a historically low level of 4.3 percent, but instead of improved wages and rising prices, both remain at depressed levels.

As one questioner noted during Yellen’s press conference, the pre-recession US economy was very different. While the Fed’s official position remains that low inflation is the result of cyclical factors, Yellen acknowledged during her remarks there could be some structural changes in the economy.

The low inflation climate was highlighted in figures released just before the Fed decision was announced. The year-on-year rate of consumer price inflation, stripping out volatile fuel and food prices, fell to 1.7 percent in May, its lowest level since 2015. This was below the market expectation of 1.9 percent. Other data showed a fall of 0.3 percent in retail sales, below the expected flat reading. The stagnation in consumer spending is reflected in the closure of hundreds of retail department stores across the country.

The inflation and retail sales figures sent the yield on US treasury bonds to 2.12 percent, down 9 basis points, to the lowest level for 2017. The fall in the rates on longer-term bonds has led to a flattening of the yield curve as they approach those on two-year debt, with the gap now close to a 10-year low. A flattening yield curve is generally indicative of worsening economic conditions and recession.

Josh Younger, an analyst at JPMorgan, told the Financial Times: “It is the third month in a row that prices have not gone up that quickly and it is causing a lot of hand wringing among investors about what this really means.” There was a “lot of focus on inflation and to the extent that inflation disappoints it raises questions,” he said.

Chris Rupkey, chief financial economist with the Mitsubishi financial group, said the economy was stuck in a rut in the first quarter “and early indications suggested that the slowdown was just temporary until we got hit with this one-two punch of bad economic news for May.”

While the interest rate rise was expected, the detail the Fed provided on its plans to wind back the holding of bonds on its balance sheet was not anticipated. Before the financial crisis, the Fed held about $800 billion worth of financial assets. As a result of quantitative easing purchases this blew out to $4.5 trillion—a significant boost to the stock market and financial parasitism in general.

Under the plan, the Fed will gradually reduce the reinvestment of principal payments on the maturing bonds it holds in its portfolio. The money will be reinvested only to the extent that it exceeds a set of steadily rising caps.

For treasury bonds, the cap will start at $6 billion a month and increase in steps of $6 billion at three-month intervals over 12 months until it reaches $30 billion a month. For mortgage-backed securities, the cap will start at $4 billion a month rising until it reaches $20 billion a month.

The reason for the gradual approach is that if the Fed suddenly withdrew from the market, the price of bonds would fall, leading to a rise in interest rates (the two move in an inverse relationship).

Yellen emphasised that the policy sought to prevent “outsized” movements in interest rates. While she did not elaborate, such sudden movements could destabilise financial markets, as took place when the Fed indicated it was easing its asset purchases in May 2013, leading to a “taper tantrum.”

No date was set for the beginning of the program and Yellen did not say what level of financial assets the Fed would continue to hold, other than it would be larger than before the crisis but “appreciably” below the level of recent years.

The monetary policy committee, she said, expected to learn more about the situation during the process of “balance sheet normalisation.” However, there is no precedent for such a financial operation in economic history. Given the extent of the financial markets’ dependence on cheap money provided by the world’s central banks, the Fed is in uncharted waters.

OBAMA-CLINTONOMICS FOR THE RICH:

On behalf of bankster-owned Barack Obama, Yellen vows to the rich and crony banksters that they will be protected and subsidized with no strings bailouts during the next looming economic meltdown around the corner from elections.

“In fact, these policies have already produced financial and asset bubbles that are unsustainable, and there are increasing signs of financial instability and crisis. There are growing warnings that the spread of negative interest rates is leading to a new financial meltdown even worse than the disaster that struck eight years ago.”

"The same period has seen a massive growth of social inequality, with income and wealth concentrated at the very top of American society to an extent not seen since the 1920s."

“He's showing more empathy for illegal aliens than he is for American citizens. Shouldn't it be the concerns of Americans he should be considering first, before the feelings of illegals? These people are taking taxpayer money and American jobs, some committing crimes, and many are not assimilating and speaking English, and Trump wants them to stay?”AMERICA: WALL STREET, THE DEMOCRAT PARTY, THE GOP and LA RAZA SAY NO LEGAL NEED APPLY!

“The percentage of foreign-born workers in the U.S. labor force has more than tripled over the last four decades and while the U.S. represents just 5 percent of the world’s population it attracts 20 percent of the world’s immigrants, according to a new report.”

Open the floodgates of our welfare state to the uneducated, impoverished, and unskilled masses of the world and in a generation or three America, as we know it, will be gone.

Those most impacted are middle class and lower middle class. It is they whose jobs are taken, whose raises are postponed, whose schools are filled with non-English speaking children that absorb precious resources for remedial English, whose public parks are trashed and whose emergency rooms serve as the local clinic for the illegal underground.

SCORCHED EARTH BANKSTER PLUNDER AHEAD!

TRUMP VOWS OB AMA’S CRONY CAPITALISM THE

PLUNDER OF OBAMA’S BANKSTERS IS NOT OVER……….. It’s just begun!!!

“This amnesty for corporate bribery and criminality reveals the essence of the Trump administration’s scorched earth campaign against business regulations.”

“Under Obama, not a single leading banker was prosecuted for the criminal activities that led to the biggest financial disaster and deepest slump since the 1930s, destroying the jobs, life savings and living standards of tens of millions of workers in the US and around the world.”

“Our entire crony capitalist system, Democrat and Republican alike, has become a kleptocracy approaching par with third-world hell-holes. This is the way a great country is raided by its elite.” ---- Karen McQuillan THEAMERICAN THINKER.com

OBAMA-CLINTONOMICS:

Build the La Raza Democrat Party base with open borders, no ID tovote Democrat, no E-VERIFY and NO DAMNED LEGAL NEED TO APPLY.

"Republicans should call for lower immigration to stop the Democrat voter recruitment. But more importantly, all Americans should call for lower immigration in order to offer a better opportunity of finding jobs for those millions of their fellow Americans of all political persuasions who would like to work."

MILLIONS OF AMERICAN JOBS HANDED OVER TO ILLEGALS ALONG WITH BILLIONS IN WELFARE.... AND THE PARTY HAS JUST BEGUN!

While the declining job market in the United States may be

discouraging some would-be border crossers, a flow of illegal aliens continues unabated, with many entering the United States as drug-smuggling “mules.”

THE DEMOCRAT PARTY PLATFORM:

NO DAMNED LEGAL NEED APPLY!

VIVA LA RAZA FASCISM? THEN VOTE DEM!

"Republicans should call for lower immigration to stop the Democrat voter recruitment. But more importantly, all Americans should call for lower immigration in order to offer a better opportunity of finding jobs for those millions of their fellow Americans of all political persuasions who would like to work."

"Far from Trump’s demagogic claims that he would 'drain the swamp,' the corrupt nexus between Wall Street and Washington is tighter than ever."

TRUMP IMPOSES OBAMA-CLINTONOMICS:

Cut Federal Pensions and Medicare to Cover Tax Cuts For the Super Rich

"Trump is not the initiator of this class war against working people. It has been underway for decades, beginning in earnest with the election of Ronald Reagan in 1980 and continuing under every succeeding administration, including the eight-year tenures of Democrats Bill Clinton and Barack Obama. The colossal redistribution of wealth and income from the bottom to the top of American society reached record proportions under Obama, whose legacy of falling living standards and worsening economic crisis for tens of millions of workers was a decisive factor in the victory of the fascistic demagogue and con artist Trump."

“The lifetime costs of Social Security and Medicare benefits of illegal immigrant beneficiaries of President Obama’s executive amnesty would be well over a trillion dollars, according to Heritage Foundation expert Robert Rector’s prepared testimony for a House panel obtained in advance by Breitbart News.”

AMERICA: NO LEGAL NEED APPLY

REPORT: The assault to finish off the American middle-class is NOT over

TRUMP FOLDS TO LA RAZA MEX FASCIST MOVEMENT

Says the “WALL” will now be only “NO TRESSPASSING” signs posted every hundred miles!

“He's showing more empathy for illegal aliens than he is for American citizens. Shouldn't it be the concerns of Americans he should be considering first, before the feelings of illegals? These people are taking taxpayer money and American jobs, some committing crimes, and many are not assimilating and speaking English, and Trump wants them to stay?”

LUV FEST:

LIKE A W HORE AT AN ORGY…

HILLARY CLINTON and OBAMA’S CRONY BANKSTERS

“So when Clinton was hobnobbing with Goldman Sachs CEO Blankfein in 2013, while investigations of wrongdoing by Goldman and the other Wall Street banks were still ongoing, she was consorting with a man who belonged in prison.”

THE DEMISE AND ULTIMATE DESTRUCTION of HILLARY CLINTON

"Hillary Clinton is a known liar, a criminal of monstrous proportions; others have gone to prison for crimes she has committed over and over: lying to Congress, lying to the FBI, violating national security laws by which she was bound as Secretary of State, etc. It's a long list."

Clinton, the candidate favored by most of Wall Street and the corporate elite and large sections of the Republican Party establishment, is seeking to assemble something akin, within the framework of the US political setup, to a grand coalition between the Democratic Party and the Republican leadership.

Transcripts released by WikiLeaks of Clinton speeches to Wall Street bankers, for which she received six-figure paychecks, show her praising the recommendations of the 2010 Simpson-Bowles deficit-reduction commission, which called for sweeping cuts to Social Security, Medicare and Medicaid; the elimination of 200,000 federal jobs; a tax on employees’ health benefits; and huge cuts in income taxes for the wealthy and corporate taxes.

“But what the Clintons do is criminal because they do it wholly at the expense of the American people. And they feel thoroughly entitled to do it: gain power, use it to enrich themselves and their friends. They are amoral, immoral, and venal. Hillary has no core beliefs beyond power and money. That should be clear to every person on the planet by now.”

Wikileaks exposes Obama’s bankster-infested

administration!

BARACK OBAMA …… the banksters’ RENT BOY!

“Citigroup’s recommendations came just three days after then-President George W. Bush signed into law the Troubled Asset Relief Program, which allocated $700 billion in taxpayer money to rescue the largest Wall Street banks. The single biggest beneficiary was Citigroup, which was given $45 billion in cash in the form of a government stock purchase, plus a $306 billion government guarantee to back up its worthless mortgage-related assets.”

MUCH MORE HERE:

“As president, Obama not only funneled trillions of dollars to the banks, he saw to it that not a single leading Wall Street executive faced prosecution for the orgy of speculation and swindling that led to the financial collapse and Great Recession, and he personally intervened to block legislation capping

executive pay at bailed-out firms.”

SOARING POVERTY AND DRUG ADDICTION UNDER OBAMA

"These figures present a scathing indictment of the social order that prevails in America, the world’s wealthiest country, whose government proclaims itself to be the globe’s leading democracy. They are just one manifestation of the human toll taken by the vast and all-pervasive inequality and mass poverty

HILLARY, BILLARY and the OBOMB: Were they America’s biggest looters?

OBAMA-CLINTONOMICS:

You were wondering how many jobs went to illegals and how well Obama’s crony banksters have done???

The sputtering economic recovering under President Obama, the last to follow a major recession, has fallen way short of the average recovery and ranks as the worst since the 1930s Great Depression, according to a new report.

Had the recovery under Obama been the average of the 11 since the Depression, according to the report, family incomes would be $17,000 higher, six million fewer Americans would be in poverty, and there would be six million more jobs.

WHY OBAMA’S CRONY BANKSTERS WANT MORE OBAMA-CLINTONOMICS

“Clinton has also stepped up her efforts to woo billionaires who have traditionally supported Republican campaigns on the grounds that she will be a more effective “commander in chief” and defender of the interests of Wall Street.”

While President Donald Trump has said that he expects some “very good numbers” on economic growth shortly and stocks hit new highs, economic data suggests the economy is growing by less than expected.

The New York and Atlanta Federal Reserve banks both lowered their estimates of Gross Domestic Product Friday. The Atlanta Fed’s GDPNow model forecasts seasonally adjusted real GDP growth is 2.9 percent, down from its prior forecast of 3.2 percent. The New York Fed’s Nowcast fell to 1.9 percent, from 2.25 percent a week ago.

The distance between the forecast indicates that forecasting economic growth is far from an exact science. For that matter, even calculating actual economic growth is not an exact science, as demonstrated by the fact that GDP numbers are frequently revised in the months that follow their initial release. The staffs of the Fed banks create the projections using economic models that can produce different results even when looking at the same data.

But both the Atlanta and New York forecasts show a discernible trend toward slowing growth. Earlier in the quarter, the Atlanta Fed was producing growth forecasts above 3.5 percent and even above 4.0 percent. Forecasted growth declined steeply in late May and has not recovered as new data has come in. The June 16 forecast was the first to come in below 3.0 percent for the second quarter.

The New York Fed’s second-quarter forecast also started out near or above 3.0 percent and has been mostly falling since then. It hit 1.8 percent in early May, bounced back a little, but is now once again near its low.

The most recent decline was driven by disappointing data on housing starts and export prices, indicating that residential investment and net exports will have a smaller contribution to GDP growth than earlier data suggested. Friday morning, U.S. consumer sentiment also unexpectedly declined.

Bloomberg’s U.S. Economic Surprise, which measures whether incoming economic data beat or miss expectations, fell below zero for the first time this year. It is now at it lowest point since Trump was elected in November. This suggests the economy is losing momentum.